WisdomTree Investments, Inc. (WETF) Downgraded to “Sell” at Zacks Investment Research
WisdomTree Investments, Inc. (NASDAQ:WETF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
According to Zacks, “INDIVIDUAL INVESTOR GROUP INC. is an information services company that publishes and markets Individual Investor magazine and Individual Investor’s Special Situations Report. In addition, the Company, through wholly owned subsidiaries, is the investment manager of private investment funds. “
WETF has been the topic of a number of other reports. Gabelli reiterated a “buy” rating on shares of WisdomTree Investments in a research note on Monday, July 31st. Northland Securities reiterated a “hold” rating and set a $10.50 price objective on shares of WisdomTree Investments in a research note on Sunday, July 30th. BidaskClub downgraded shares of WisdomTree Investments from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and set a $14.00 price objective on shares of WisdomTree Investments in a research note on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating on shares of WisdomTree Investments in a research note on Thursday, August 10th. Six research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. WisdomTree Investments currently has a consensus rating of “Hold” and an average target price of $10.25.
WisdomTree Investments (NASDAQ WETF) traded up 1.05% during midday trading on Thursday, hitting $10.63. 1,258,777 shares of the stock traded hands. The company’s 50-day moving average is $9.27 and its 200-day moving average is $9.42. WisdomTree Investments has a one year low of $7.87 and a one year high of $13.32. The company has a market cap of $1.43 billion, a PE ratio of 48.32 and a beta of 3.15.
WisdomTree Investments (NASDAQ:WETF) last released its quarterly earnings results on Friday, July 28th. The asset manager reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. WisdomTree Investments had a net margin of 13.33% and a return on equity of 15.41%. The business had revenue of $63.40 million during the quarter, compared to analyst estimates of $57.27 million. During the same period last year, the business earned $0.07 EPS. The business’s revenue was up 13.2% on a year-over-year basis. Equities research analysts expect that WisdomTree Investments will post $0.26 EPS for the current fiscal year.
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In other WisdomTree Investments news, Director Bruce I. Lavine sold 10,289 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $10.10, for a total transaction of $103,918.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 16.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its stake in WisdomTree Investments by 0.7% during the 2nd quarter. Bank of Montreal Can now owns 50,078 shares of the asset manager’s stock valued at $508,000 after buying an additional 356 shares during the period. PNC Financial Services Group Inc. increased its stake in WisdomTree Investments by 3.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 19,688 shares of the asset manager’s stock valued at $201,000 after buying an additional 668 shares during the period. Texas Permanent School Fund increased its stake in WisdomTree Investments by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 83,782 shares of the asset manager’s stock valued at $852,000 after buying an additional 692 shares during the period. Tudor Investment Corp ET AL increased its stake in WisdomTree Investments by 5.4% during the 2nd quarter. Tudor Investment Corp ET AL now owns 14,289 shares of the asset manager’s stock valued at $145,000 after buying an additional 726 shares during the period. Finally, Amalgamated Bank increased its stake in WisdomTree Investments by 5.0% during the 2nd quarter. Amalgamated Bank now owns 15,966 shares of the asset manager’s stock valued at $162,000 after buying an additional 760 shares during the period. 92.49% of the stock is currently owned by hedge funds and other institutional investors.
About WisdomTree Investments
WisdomTree Investments, Inc is an asset management company that focuses on exchange-traded funds (ETFs). The Company’s family of ETFs includes funds that track its own indexes, funds that track third party indexes and actively managed funds. It operates as an exchange traded products sponsor and asset manager providing investment advisory services in the United States, Europe, Canada and Japan.
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